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Swiss president: ‘Libra has failed’

It’s not even a week into the new year and already Facebook‘s “cryptocurrency” project Libra is coming under fire once again. This time, Switzerland is speaking out against the digital coin. Speaking to Swiss broadcaster SRF, the country’s president and finance minister Ueli Maurer said the project has...

It’s not even a week into the new year and already Facebook‘s “cryptocurrency” project Libra is coming under fire once again. This time, Switzerland is speaking out against the digital coin. Speaking to Swiss broadcaster SRF, the country’s president and finance minister Ueli Maurer said the project has failed, Reuters reports. He believes banks won’t accept Libra in its current form: “I don’t think (Libra has a chance in its current form), because central banks will not accept the basket of currencies underpinning it. The project, [Libra] in this form, has thus failed.” That’s all well and good, but what… This story continues at The Next Web

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